Nvidia Soars as Blowout Earnings Point to a PC Gaming and Artificial Intelligence Boom

Nvidia Soars as Blowout Earnings Point to a PC Gaming and Artificial Intelligence Boom

This article originally appeared on Real Money on Nov. 10, 2016. A lot had already been priced into Nvidia’s (NVDA) shares going into the company’s fiscal third-quarter report on Thursday. But apparently not enough. Several analysts dialed their estimates sharply higher after the latest results, and they may also have to re-think just how big Nvidia’s long-term addressable market is. The GPU giant reported third-quarter revenue of $2 billion (up 54% annually) and EPS of 83 cents, trouncing consensus analyst estimates of $1.69 billion and 60 cents. It also guided for fourth-quarter revenue of $2.1 billion (plus or minus 2%), well above a $1.69 billion consensus and implying 50% annual growth at the midpoint. Shares spiked after hours on Thursday and were up 22% Friday morning to $82.73, surging to new highs and now up…